Guests buy recent merchandise at a grocery store in southern Seoul, Dec. 11. Yonhap
The costs of main imported agricultural items in Korea have risen sharply in recent times, outpacing international worth will increase as a result of weakening of the Korean gained in opposition to the U.S. greenback, knowledge confirmed Sunday.
In line with the Financial institution of Korea (BOK), the import worth index for espresso got here to 307.12 in November in U.S. greenback phrases and 379.71 in Korean gained phrases, with 2020 set as the bottom yr at 100.
The figures point out that international espresso costs have risen about threefold over the previous 5 years however elevated almost fourfold when transformed into the Korean gained.
The information confirmed that the value of imported beef elevated 30 p.c over the interval in U.S. greenback phrases however surged 60.6 p.c in Korean gained phrases.
Over the identical interval, the value of imported pork rose 5.5 p.c in U.S. greenback phrases however jumped 30.5 p.c in Korean gained phrases.
The Korean gained traded at across the 1,100-won stage in 2021 earlier than weakening into the higher 1,200-won vary in 2022. Within the fourth quarter of 2025, the common trade fee stood at 1,450 gained per greenback.
The value of imported recent seafood fell 11 p.c by way of U.S. {dollars} however rose 10 p.c in Korean gained, reflecting the influence of foreign money depreciation, the info additionally confirmed.
Korea imports a number of uncooked supplies, corresponding to sugar and flour, mentioned Choi Chul, a professor of client economics at Sookmyung Ladies’s College.
“As the value of domestically produced (agricultural merchandise) are rising attributable to local weather change, a hike in imported items as a result of international trade fee will push up total meals costs, together with processed merchandise.”
